For the Iam Union explained why members had rejected the proposed contract and voted for strike action. While there were many important things that were in this offer, it didnt make up, it didnt bridge the gap for 16 years, from 2008, and going through two extensions and the threats ofjob loss. You know, stagnated wages, Cost Shift on healthcare, and many other issues, and especially relocation of thousands of jobs for other programmes leaving the state. Lets get the latest with our business correspondent, theo leggett. There is more to this than just rejecting a 25 pay rise, isnt there . There are grievances Dating Back over 15 years and a lot of history to others because absolutely a list goes back a long way. Iii because absolutely a list goes back a long way. Because absolutely a list goes back a long way. If you look at the Control Back a long way. If you look at the control of back a long way. If you look at the control of an back a long way. If you look at the control of an isolation, the control of an isolation, boeing was offering a 25 Pay Increase over four years plus other benefits. Compliment described are offered as historic. The Iams Widow said it was the best contract they had ever negotiated, and yet it was rejected emphatically. Part of the reason of that is an overall breakdown of trust between boeing and its workers. In previous contract negotiations, boeing was in a position of power and reportedly suggested that if the workforce did not get in line, it would remove production from the pacific North West and take it elsewhere. Employees effectively felt they were going into these negotiations with a gun held to the head, and as a result had to make concessions. Now with boeing and a much weaker position at the moment, they wanted a number of those benefits back. There is also a seemingly lack of trust between the employees and the Union Leadership itself. They had recommended us offer, and yet the work. Was to reject it by a very significant margin. Reject it by a very significant mar in. , reject it by a very significant maruin. ,. Margin. How will this affect the production margin. How will this affect the production of margin. How will this affect the production of the margin. How will this affect the production of the 737 i margin. How will this affect the production of the 737 max . The Bone 737 Max is boeings best Selling Aircraft in its history. It still has an Order Book containing a a500 of them. Production has been interrupted pretty much and that plane was lunch at one point or another. Five years ago there were those two terrible accidents involving the 737 max in which hundreds of people were killed. Since then, there have been other problems of Quality Control which have resulted in further delays to the Ramp Up in production that boeing wanted to see. At the moment it is under the cosh for regulators because it is supposed to be implementing a programme of reforms on the Shop Floor to restore Quality Control and safety standards. Boeing wants to be producing as many of these aircraft as it can because it is the most profitable option, but at the moment it is struggling to do so. Stoppages and factories will increase the delay is that airlines have been experiencing and getting new aircraft. If the strike who cost the company and its suppliers billions if it goes on for long. Lets turn to the markets now. Its been a busy week for economic data, with Inflation And Ppi data out Weve Seen StocksWall Street is now looking ahead toward the federal reserve s Policy Meeting on september 17th, where the Central Bank is largely anticipated to lower Interest Rates. Joining me now is will mcdonough, ceo of cornerstone capital. The big news today, bill dudley, former new York Fed president , said the strong case for 50 Basis Point Cut right to Interest Rates next week. Do you think the market is too optimistic about the rate of cuts . I optimistic about the rate of cuts . ~. ~ , optimistic about the rate of cuts . ~. , ~ ,. , cuts . I think the market is not auoin to cuts . I think the market is not going to necessarily cuts . I think the market is not going to necessarily react going to necessarily react positively if that happens. It may be viewed as an over correction. If it seem to do 50 Basis Points on this term i think the market could actually react negatively instead of positively, in fear that the fed is over correcting and trying to ease too fast now. It is almost as if they are damned if they do, damned if they dont. We predict a total of 1 between now and Year End, whether that is 25 Basis Points or 50 now, iwould prefer to see 25 now and ease us into Year End. See 25 now and ease us into Year End see 25 now and ease us into ear end. ,. ,. , Year End. The Tech Heavy Nasdaq 100 has had Year End. The Tech Heavy Nasdaq 100 has had a Year End. The Tech Heavy Nasdaq 100 has had a stellar Year End. The Tech Heavy Nasdaq 100 has had a stellar week. Year end. The Tech Heavy Nasdaq 100 has had a stellar week. Do. 100 has had a stellar week. Do you think that momentum will continue . I you think that momentum will continue . , you think that momentum will continue . You think that momentum will continue . , ~. ,. ,. Continue . I do. We are watching gooale continue . I do. We are watching google closely. Continue . I do. We are watching google closely, we continue . I do. We are watching google closely, we think continue . I do. We are watching google closely, we think Googlej Google closely, we think google might have over corrected here. I think of the Magnificent Seven, google is probably a good buy here. But ijust speaks to the concentration in the us market and how people should be nervous about how the Snp 500 is really worked around by these Magnificent Seven. Lie by these Magnificent Seven. Us stocks have had an incredible week. After what was the worst week. After what was the worst week for stocks all year. What you make of that volatility . I think we are going to see tremendous volatility. The us market is facing a very large election and the two parties could not be further apart when it comes to economic policy. I think the volatility between now and yet is going to be significant. I think every time thatis significant. I think every time that is a News Item with people believe the damage are pulling ahead, the markets react negatively. When things that level out and people perceive the republicans ahead, you see markets react positively. I think up the most recent debate, i think the markets were predicting a republican victory, and when that did not go as go as well as previous encounters, but has been a lot more volatility. 0ne encounters, but has been a lot more volatility. One thing i can guarantee is volatility between here and Year End. What ou think between here and Year End. What you think is between here and Year End. What you think is going between here and Year End. What you think is going to between here and Year End. What you think is going to be between here and Year End. What you think is going to be the biggest catalyst for stocks going forward . Is going to be the election, economic data from the fed or ending momentum . From the fed or ending momentum . � ,. , momentum . Lets focus on Earnina Momentum . Lets focus on earning momentum. Momentum . Lets focus on earning momentum. Of momentum . Lets focus on i earning momentum. Of costly earning momentum. Of costly political environment in the us is going to drive environments, but when you look at the largest companies, how dependent they are on the debt markets, if the market is perceiving cost of debt to come down, i think that will positively reflect on the Magnificent Seven and the S And P 500, because those companies are so dependent on capital. Capital intensity is high. If we see a Rate Environment lower and the cost of Capital Loss lowers with it, i think that will be positive for us growth and that is why the market is being so volatile right now, because it is so dependent on the cost of capital. We will be watching those numbers closely. Yes, volatile indeed. Thank you so much. Now to russia, where the Central Bank raised its key Interest Rate from 18 to 19 , a widely anticipated move. This as the country struggles to cool down inflation amid soaring Military Spending for the war in ukraine. They also recently raised Gdp Output forecasts for 202a. Finance Minister Anton Siluanov said he now expects Gross Domestic Product to climb to 3. 9 this year up from the 2. 8 forecast in april. But this is heavily dependent on large scale Military Spending by the government. Joining me now is chris weafer, the ceo of macro advisory. Chris, how would you describe or break down Russias Economy Today . I think ithink in i think in a word, strange. You have a strange situation with the economy is subject to this massive accumulation of sanctions that really should have crippled the economy, but hasnt. And you have the Finance Ministry are now raising Growth Close to a , and a booming consumer sector. It is partly on the back of very strong Oil Info is coming into the budget, which allows the expending and the military industrial complex, now about 8 of gdp. It is also kind of derivative of that, which is the consumer boom, and as low by the Central Bank have raised the race to 19 . It is only partly to do with inflation, which is now at 9. 1 , certainly higherfrom 6 at which is now at 9. 1 , certainly higher from 6 at this time last year. But the main target for the centre back is to try and really cool this excessively strong Consumer Spending in the economy, which is coming on the back of people earning a lot more money working for the military industrial complex, a shortage of labour across the country, and private industry having the kind of keep up with the military sector and are paying an average Wage Growth of about 25 , all of which is feeding into the Consumer Economy and creating this bubble that the Central Bank are fearful of. We also recently Central Bank are fearful of. We also recently raise their gdp forecast. What was behind that . Is a lot to do with the Consumer Spending and the military industrial complex. Russia is able to afford out because of the been an 80 jump in at the value of oil exports in at the value of oil exports in the first seven months of this year, so strong Budget Inflows allowing spending and the military sector to continue. That is the key driver of. But the derivative of that is the consumer boom, people earning a lot of money and spending it. These are the two key drivers of the economy, and it looks like the strength of the economy will continue into next year. Net thank you so much. Lets Take A Look at the markets. Europe are seeing stocks broadly higher after the Ecb Cut and has rates by 25 Basis Points yesterday. Asian markets were mixed, china stocks hitting their lowest since 2019, we saw the yen gaining some strength. In the us, there have been four days of gains, ending the week on a strong note. All eyes on that fed meeting on september 18. Thank you for watching. Thats all we have time for for. Stay with us here on bbc news. Hello from the bbc sport centre. The biggest Team Competition in Womens Golf is underway. The 19th solheim cup, usa have Home Advantage in virginia as they look to win the trophy for the first time since 2017. The four foursomes matches are out on the course. This is when each team take alternate shots with the same ball. Maja stark and Emily Pedersen Have made a great start for europa, they are three up on Ally Ewing and jennifer kupcho. The top two matches are tied, really topsy turvy. World number one Nelly Korda and Alissen Corpuz tied against Charley Hull and esther heinseleit. It is all square at the moment. Vu and schmelzel also tied against grant and ciganda. That is the very latest from the first foursomes and the solheim cup. Great britains davis Cup Team are looking to move another step closer to the finals in november. They won their Opeing Group Tie against finalnd on wednesday, and are taking on argentina right now at the manchester arena. But Dan Evans has lost his opening set